Daiichi Life Insurance Co. Ltd. Purchases Shares of 12,221 Nucor Corporation $NUE

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,221 shares of the basic materials company’s stock, valued at approximately $2,722,000.

Several other hedge funds have also made changes to their positions in NUE. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after buying an additional 82,668 shares during the last quarter. Pacific Heights Asset Management LLC raised its position in shares of Nucor by 12.9% in the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after buying an additional 20,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Nucor by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after buying an additional 29,476 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Nucor in the fourth quarter valued at $23,804,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $243.89 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The firm has a market cap of $55.33 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. The stock has a 50-day simple moving average of $246.88 and a 200-day simple moving average of $217.05.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.Nucor’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 EPS. On average, equities analysts predict that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s payout ratio is presently 17.86%.

Insider Transactions at Nucor

In related news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,528 shares of company stock valued at $4,793,035. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of a number of research reports. Citigroup reissued a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Seaport Research Partners boosted their target price on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nucor in a report on Tuesday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.